Troutman Pepper, Paul Weiss Guide $106M Otelco Deal

Law360 (July 27, 2020, 10:38 PM EDT) -- Telecommunications services group Otelco said Monday it will be taken private by affiliates of private equity firm Oak Hill in a deal guided by Troutman Pepper and Paul Weiss that values the company at $106 million.

Oneonta, Alabama-based Otelco Inc. said it agreed to be purchased by the affiliates of Oak Hill Capital for $11.75 per share, representing an equity purchase price of nearly $41 million. The offer is more than a 43% premium to Otelco's share price June 23, and a more than 58% premium to its average daily closing stock price for the second quarter of 2020, the company said....

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